Supply and demand
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Supply and Demand. Supply. As the price of a good or service that producers are willing and able to offer for sale during a certain period of time rises (or falls), the quantity of that good or service supplied rises (or falls). . Demand.

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PowerPoint Slideshow about ' Supply and Demand' - josie


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Presentation Transcript

Supply
Supply

  • As the price of a good or service that producers are willing and able to offer for sale during a certain period of time rises (or falls), the quantity of that good or service supplied rises (or falls).


Demand
Demand

  • As the price of a good or service that consumers are willing and able to buy during a certain time period rises (or falls) the quantity of that good or service demanded falls (or rises).





Hula hoops and silly bandz
Hula Hoops and Silly quantity suppliedBandz

  • www.youtube.com/watch?v=Ng3XHPdexNM

  • How does this video show the connection between supply and demand?



What is the relationship between producers and consumers?http://abcnews.go.com/Nightline/video/silly-bandz-latest-fad-11686769

Prices are used in the market to help producers and consumers communicate with each other.





  • Silly increase in the price level- consumers wanted to buy and were willing and able to pay more for the toy.Bandz- producer was sensitive to the idea of raising the price for the product- part of the marketing strategy was to be a cheap alternative to video games and other expensive toys



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